Adjusting Entries That Reflect a Change in Accounting Principle Used

question 14

Multiple Choice

Adjusting entries that reflect a change in accounting principle used to value inventories are classified as

• A)corrections.
• B)estimates.
• C)deferrals.
• D)revaluations.

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Definitions:

Stagnant Relationship

A Stagnant Relationship is a romantic partnership that experiences little to no growth or excitement, often feeling stuck in routine without progress.

Authoritative Stance

A position of power or control that is assertive and commanding, often used in decision-making processes.

Sexual Orientation

An individual's pattern of emotional, romantic, or sexual attraction to others, based on their gender which can be heterosexual, homosexual, bisexual, etc.

Personal Prejudices

Preconceived opinions or attitudes held by an individual that are not based on reason or actual experience.